The Portland metro area saw cooler real estate activity this November, but numbers are still higher compared to last November. Closed sales (1,937) fared 6.4% better than last November’s closings (1,821), despite a 22.1% decrease from October’s 2,487 closings. Pending sales, at 2,091, were 14.4% higher than last November (1,827) but 15.7% lower than October (2,480). New listings (1,922) decreased 2.7% from last November (1,976) and 33.3% from last month (2,881). There are currently 6,131 active residential listings in the Portland metro area. Total market time rose in November to 69 days. Inventory slightly rose to 3.2 months.
Activity in the Portland metro area is ahead of last year. New listings (36,040) are up 4.5%, pending sales (26,654) are up 3.8%, and closed sales (25,392) are up 2.1% compared to the first eleven months of 2013. The average price the first eleven months of the year was $333,200, up 7.2% from the same time frame in 2013 when the average was $310,800. In the same comparison, the median also rose 7.5% from $265,000 in the first eleven months of 2013 to $285,000 in the same period of 2014.
Our home of the month is a home in Portland Heights with stunning views of downtown, the rivers, mountains and more. The "deck" photo from this home was recently featured as the cover photo in a real estate magazine. It previously sold and was on the market for $1,000,000 and is now back on the market (no fault of home) at $899,999 for a quick sale. Its one of very few homes in the area with stunning views for under a million dollars and is a must see. You can view it at http://www.roblevy.com/Property/2723-NW-Monte-Vista-Terrace-Portland-Oregon